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New employees see significant pay increases

Category: Scottish Economy — Gary Cain on October 28, 2013

The latest Bank of Scotland market report has shown that the average wage for new recruits is on the rise.

Prospects for both temporary and permanent positions have improved, with those in Aberdeen seeing the greatest benefits.

The figures represent the fastest growth of its kind in six years, with the news coming despite recent statistics showing that, on the whole, the average pay rate is falling behind inflation.

A number of members of the Institute of Recruiters have also said that positions were found for more people throughout September. According to Bank of Scotland’s report, this is largely down to greater demand from clients.

The highest levels of demand were seen in construction, engineering and IT, with Aberdeen’s success being driven by large investments into the country’s oil and gas projects.

The Bank of Scotland labour market barometer saw a shift up to 60 from 59.7 across August too. According to Donald MacRae, the bank’s chief economist, the increase seen in these figures is indicative of things getting better in the coming months. He explained:

“September’s Labour Market Barometer showed a continuing improvement in Scottish job market conditions.

“The number of people appointed to both permanent and temporary jobs increased while growth in vacancies was marked.

“The Engineering and Construction sectors saw the highest rate of vacancy growth for almost two-and-a-half years.”

He went on to say that it is all evidential of the Scottish economic recovery strengthening alongside that of the wider UK.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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